Day: November 23, 2023

United Kingdom Seeks to Strengthen Its Digital Asset Sector

The UK government appears to be intent on expanding digital assets throughout the nation. To this effect, it now looks forward to passing legislation to implement the Digital Securities Sandbox (DSS). Recent efforts by the United Kingdom (UK) suggest that the nation may be looking to expand its digital assets sector. This follows the news that British Finance Minister Jeremy Hunt recently announced new legislation to that effect. This statement came alongside a mini-budget of 110 measures that the UK has highlighted for the improvement of its economy. United Kingdom to…

DEX Platform KyberSwap Faces Exploit Losing $47M

Kyber Network has asked all of its users to promptly withdraw all their funds without clicking on any suspicious links or DMs. KyberSwap, a decentralized exchange (DEX) protocol, has reportedly experienced a $47 million exploit, based on on-chain data. The funds were associated with its Elastic Pools liquidity solution. Unexpectedly, funds from wallets linked to the protocol moved to a single wallet, as highlighted by a user known as Spreek on X. The affected funds include $20.7 million on Arbitrum, $15 million on Optimism, $7 million on Ethereum, $3 million…

FTX’s FTT token rallies 28% — Binance effect or FTX 2.0 reopening?

boss

Amid market uncertainties around Changpeng “CZ” Zhao’s departure as Binance CEO, defunct crypto exchange FTX’s native FTX Token (FTT) witnessed a brief bull run. FTT has surged in value over the past 48 hours, trading at $4.63 at the time of writing, a 28% increase from $3.56. FTT is experiencing another surge following Binance’s $4.3 billion settlement with the United States Department of Justice, according to on-chain analysis firm Santiment, which revealed the 10 largest wallets accumulating $12.8 million of tokens in 19 days. According to Santiment, FTT has recorded 337%…

Grayscale updates spot Bitcoin ETF application after meeting with SEC

boss

Crypto asset manager Grayscale recently unveiled an updated version of its spot Bitcoin exchange-traded fund (ETF) following discussions with the US Securities and Exchange Commission (SEC). According to Bloomberg researcher James Seyffart, the updated documentation contains a plan to change GBTC’s ticker to BTC. After carefully reviewing the revised documentation, Seyffart noted that it is unlikely to contain significant changes compared to the previous version. However, the current version has significant changes from the original submission, as he stated:“in this amendment, the shades of gray have changed a lot from…

Justin Sun-related crypto platforms hacked 4 times in 2 months

boss

Tron founder Justin Sun’s crypto businesses have come under repeated attacks from hackers over the past two months, with at least four hacks on platforms related to the crypto entrepreneur. Sun’s HTX crypto exchange has been hacked at least twice since the platform rebranded from Huobi on Sept. 13, 2023. The first HTX hack occurred just a few days after the rebranding, with an unknown attacker stealing nearly $8 million in crypto on Sept. 24, 2023. In its second hack, HTX lost $30 million due to a hot wallet breach…

Crypto Exchange Binance’s BTC Reserves Drop as Retail Flow Moves to Coinbase (COIN): CryptoQuant

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant…

Changpeng Zhao Faces Travel Restrictions amid Plea Deal and Legal Battle

Zhao’s guilty plea stems from accusations that Binance violated the Bank Secrecy Act by knowingly allowing US customers on the platform without conducting proper KYC and AML checks.  In a recent development in the legal saga surrounding Binance Holdings Ltd‘s former CEO Changpeng ‘CZ’ Zhao, prosecutors are intensifying efforts to keep him within the United States ahead of his sentencing hearing on February 23, 2024. This follows Zhao’s guilty plea on Tuesday to violating US laws related to money laundering, a move that prompted his resignation as CEO and a…

Evernode Announces Airdrop For XRP Holders, Sets Launch Date

boss

Evernode, a layer-2 network developed on the XRP Ledger (XRPL), has recently provided crucial updates concerning its airdrop for XRP holders. The project, which integrates smart contract capabilities with XRPL, has revised its launch to December 18, 2023, following technical challenges. On the same day, the airdrop is expected to take place. Evernode Launch Date Announced The revised launch date of December 18, 2023, is primarily due to delays with the XUMM wallet’s integration in supporting account cloning on the Xahau network. This network is a recent addition as a…

Is Ethereum Layer 2 Blast a Ponzi Scheme?

The caveat is that staked assets can’t be withdrawn until the Blast bridge goes live in February. In the meantime, users receive “Blast points,” which can be used to redeem an airdrop scheduled for May. Users can receive additional Blast points by introducing other users through unique referral links. As such, Blast is invite-only as of Thursday, requiring a code from an existing user to gain access. Source

Serious Bitcoin Bull Run to Kickoff after 2024 Halving that Is Nearly 150 Days Away

Bitcoin price has already bottomed out from the 2022 crypto bear market with about 137.1k BTC left to mine until the fourth halving event in early 2024. It is expected that approximately 150 days are left until the next halving. The much-awaited Bitcoin (BTC) parabolic rally beyond its all-time high (ATH) will happen after April according to Morgan Stanley (NYSE: MS), a leading investment bank that is focused on emerging technologies and markets. With the global cryptocurrency regulatory framework largely in place compared to the 2021 bull run, Morgan Stanley…